Ecom Jeopardy

Wants & needs

100

Which one of these items are a need?

A. New clothes

B. brand new M5 Wagon

C. A Mansion

D. Food

D. Food

200

In personal finance, a need is defined as something you must have to survive or live healthily and safely. Which item below is a basic need?

• A. A ticket to a concert
• B. A new smartphone
• C. A safe place to live (housing) and food
• D. Designer clothing

• C. A safe place to live (housing) and food

insurance/investing/retiremnet

100

What is the primary advantage of starting to invest for retirement in your 20s rather than your 40s?

A) You take less risk.

B) You have more time for your money to compound.

C) Investment fees are cheaper when you are younger.

D) You can only invest in stocks when you are young.

B) You have more time for your money to compound.

200

 Which of the following is a common retirement savings plan offered by many employers that often includes a "company match"?

• A. 401(k) Plan
• B. Checking Account
• C. Credit Card
• D. Social Security Card

• A. 401(k) Plan

career/lifestyle

100

Which of the following is the most effective way to balance a desired lifestyle with long-term financial security?
A. Spending all income on immediate wants to maximize happiness.
B. Choosing a career based only on high income, regardless of personal satisfaction.
C. Creating a budget that balances savings, investments, and expenses.
D. Avoiding all debt, even if it prevents buying a home or car

C. Creating a budget that balances savings, investments, and expenses.

200

Which of the following is an example of an opportunity cost when choosing to work extra overtime hours?

• A. The extra money you earn in your paycheck.
• B. The taxes the government takes from your pay.
• C. The time you give up spending with your family or on hobbies.
• D. The cost of the uniform you wear to work.

• C. The time you give up spending with your family or on hobbies.

taxes/credit/money management

100

What is the primary purpose of creating a personal budget?
A. To avoid paying taxes
B. To track your spending habits and manage cash flow
C. To increase your total debt
D. To guarantee you become a millionaire in one year

B. To track your spending habits and manage cash flow

200

Which of the following has the biggest impact on your credit score?
A. The number of credit cards you own
B. Your income level
C. Your payment history (paying bills on time)
D. The age of your car

Your payment history (paying bills on time)

GOV regulation

100

 The U.S. government regulates the economy to prevent monopolies, which ensures: 

A. Fewer products are available.

B. Increased competition

C. Higher prices for consumers.

D. Less choice in the market. 

B. Increased competition

200

• When the government collects taxes from individuals and businesses, what does it use this money for?

  • A. To give everyone free luxury cars
  • B. To pay for public services like roads, schools, and defense
  • C. To store it all in one large vault
  • D. To give only to rich people

• B. To pay for public services like roads, schools, and defense